Hi,
To be honest, if the data table is in the range A2:B50, in my opinion, his formula is better, cause yours is checking the Entire Columns of A and B (over a million rows).
Lets say you're checking A2, second row, and dragging the formula down, checking A3, A4, A5, etc.
Your boss's formula should be =VLOOKUP(A2,Sheet2!A$2:B$50,2,0) and this is faster than your version.